When Bush was President, my wife and I had a combined 6-figure income. After 5 years of unemployment and food stamps, I’ve finally gotten back on my feet and am making half of what we were making during the Bush years.
We are being raped. But glad you are recovering! I am working full time during a time in my life when people used to think they’d be on a permanent vacation. And, as my sister says, I need to count my blessings.
We have seen zero growth in wages, a significant lessening of our net worth over the last 7 years to the tune of about 30% less. We’re holding our own...but inflation over the last few years especially in fuel costs have eaten up family vacations. Haven’t done one since this POS became pResident. I’ve had time off, but they are stay-cations, not travel. I work in the yard, paint, and the like, take the kids to things locally but nothing spectacular.
Your story sounds similar to mine, six figures but began to decline in 2007, bottom dropped out in 2008, shut my company down and went to work for a former customer for 1/3 of what I was making previously. Held it together OK on that, worked my way up, increased my pay nearly 30% from starting salary but did end up having to tap emergency fund frequently for anything above and beyond, car repairs, house repairs.
That job ended unexpectedly in January 2014. Drew unemployment for the first time in my life, which maxes out at $350.00 a week and only goes 19 weeks here in NC. Looked promising to land a much better position right off the bat, but various factors prevented that from occurring, so I began taking contract and freelance work, which is allowed on unemployment so long as it doesn’t exceed a certain amount. Blew right past the end of unemployment eligibility, redoubled my efforts to build up the contract and freelance work, while applying madly for jobs for which I’d qualify. Managed to support myself but just barely, and emergency funds were just about depleted.
Landed a job in November, in my field, well qualified for it, great benefits and I’ve clawed back to 2/3 of what I was making prior to the crash. Working to build that emergency fund back before I do anything else, it saved me twice.